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Last Updated: February 26, 2026, 3:50 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500033 | NSE: FORCEMOT

Force Motors Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: February 26, 2026, 3:50 am

Market Cap 33,286 Cr.
Current Price 25,262
Intrinsic Value₹59,821.41
High / Low 26,486/6,464
Stock P/E34.7
Book Value 2,661
Dividend Yield0.16 %
ROCE30.0 %
ROE20.8 %
Face Value 10.0
PEG Ratio0.12

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Force Motors Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Force Motors Ltd 33,286 Cr. 25,262 26,486/6,46434.7 2,6610.16 %30.0 %20.8 % 10.0
SML Mahindra Ltd (SML ISUZU Ltd) 7,117 Cr. 4,918 5,348/1,02844.9 3070.37 %27.1 %36.4 % 10.0
Olectra Greentech Ltd 8,299 Cr. 1,011 1,714/96558.0 1370.04 %20.5 %14.3 % 4.00
Tata Motors Ltd 1,47,974 Cr. 402 538/3246.84 3161.49 %20.0 %28.1 % 2.00
Ashok Leyland Ltd 1,24,543 Cr. 212 215/95.234.5 21.41.47 %14.3 %28.8 % 1.00
Industry Average64,243.80 Cr6,361.0035.79688.480.71%22.38%25.68%5.40

All Competitor Stocks of Force Motors Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 1,2641,3041,4901,4881,8021,6922,0111,8851,9411,8892,3562,2972,081
Expenses 1,1661,2501,3721,3101,5811,4771,7331,6401,6641,6582,0271,9741,719
Operating Profit 9854118177221215279245277232329323363
OPM % 8%4%8%12%12%13%14%13%14%12%14%14%17%
Other Income 125246119418159204182526
Interest 20171818161414954700
Depreciation 61606363676868696971727071
Profit before tax 30-18284107147137214182211177668278317
Tax % 36%-14%48%36%36%37%35%36%36%35%35%36%-11%
Net Profit 19-16147699485140116135115435176351
EPS in Rs 14.61-11.83111.2552.0671.2464.81106.4587.81102.4787.51329.92133.82266.14

Last Updated: December 26, 2025, 11:07 pm

Below is a detailed analysis of the quarterly data for Force Motors Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

  • For Sales, as of Sep 2025, the value is 2,081.00 Cr.. The value appears to be declining and may need further review. It has decreased from 2,297.00 Cr. (Jun 2025) to 2,081.00 Cr., marking a decrease of 216.00 Cr..
  • For Expenses, as of Sep 2025, the value is 1,719.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 1,974.00 Cr. (Jun 2025) to 1,719.00 Cr., marking a decrease of 255.00 Cr..
  • For Operating Profit, as of Sep 2025, the value is 363.00 Cr.. The value appears strong and on an upward trend. It has increased from 323.00 Cr. (Jun 2025) to 363.00 Cr., marking an increase of 40.00 Cr..
  • For OPM %, as of Sep 2025, the value is 17.00%. The value appears strong and on an upward trend. It has increased from 14.00% (Jun 2025) to 17.00%, marking an increase of 3.00%.
  • For Other Income, as of Sep 2025, the value is 26.00 Cr.. The value appears strong and on an upward trend. It has increased from 25.00 Cr. (Jun 2025) to 26.00 Cr., marking an increase of 1.00 Cr..
  • For Interest, as of Sep 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Jun 2025) which recorded 0.00 Cr..
  • For Depreciation, as of Sep 2025, the value is 71.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 70.00 Cr. (Jun 2025) to 71.00 Cr., marking an increase of 1.00 Cr..
  • For Profit before tax, as of Sep 2025, the value is 317.00 Cr.. The value appears strong and on an upward trend. It has increased from 278.00 Cr. (Jun 2025) to 317.00 Cr., marking an increase of 39.00 Cr..
  • For Tax %, as of Sep 2025, the value is -11.00%. The value appears to be improving (decreasing) as expected. It has decreased from 36.00% (Jun 2025) to -11.00%, marking a decrease of 47.00%.
  • For Net Profit, as of Sep 2025, the value is 351.00 Cr.. The value appears strong and on an upward trend. It has increased from 176.00 Cr. (Jun 2025) to 351.00 Cr., marking an increase of 175.00 Cr..
  • For EPS in Rs, as of Sep 2025, the value is 266.14. The value appears strong and on an upward trend. It has increased from 133.82 (Jun 2025) to 266.14, marking an increase of 132.32.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 3:43 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,0222,3643,0253,0693,4233,6523,0811,9883,2405,0296,9928,0728,624
Expenses 1,9252,2172,7512,8013,1553,3782,8201,9643,1904,7166,0966,9737,377
Operating Profit 9714727426826827526124503138971,0991,247
OPM % 5%6%9%9%8%8%8%1%2%6%13%14%14%
Other Income 606671866982325226837446488
Interest 975671528284168622612
Depreciation 858192113129151195174191241267280284
Profit before tax 6312524923520119042-176-1302726051,2381,440
Tax % -24%19%28%23%27%25%-20%-30%-30%51%36%35%
Net Profit 7810217918014714350-124-911343888011,077
EPS in Rs 59.0877.06135.77136.68111.66108.7838.08-93.83-69.12101.42294.54607.71817.39
Dividend Payout % 5%6%7%7%9%9%26%-5%-14%10%7%7%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)30.77%75.49%0.56%-18.33%-2.72%-65.03%-348.00%26.61%247.25%189.55%106.44%
Change in YoY Net Profit Growth (%)0.00%44.72%-74.93%-18.89%15.61%-62.31%-282.97%374.61%220.64%-57.70%-83.11%

Force Motors Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:21%
3 Years:36%
TTM:15%
Compounded Profit Growth
10 Years:18%
5 Years:47%
3 Years:100%
TTM:39%
Stock Price CAGR
10 Years:24%
5 Years:74%
3 Years:138%
1 Year:126%
Return on Equity
10 Years:8%
5 Years:8%
3 Years:15%
Last Year:21%

Last Updated: September 5, 2025, 3:30 pm

Balance Sheet

Last Updated: February 1, 2026, 2:48 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 13131313131313131313131313
Reserves 1,2151,3061,4761,6541,7881,9201,9521,8251,7351,8622,2423,0203,493
Borrowings 20111419902863106421,069955524170
Other Liabilities 5276458017387226178237578441,1841,6352,0831,836
Total Liabilities 1,7751,9752,3052,6042,5232,8363,0983,2383,6614,0134,4155,1345,342
Fixed Assets 6436387869119481,2161,4001,2242,0332,0942,0311,9692,115
CWIP 206240205220369372445725302154171287190
Investments 00149102378100111979110395
Other Assets 9251,0971,3001,4631,1961,2251,1751,1891,2151,6682,1212,7752,941
Total Assets 1,7751,9752,3052,6042,5232,8363,0983,2383,6614,0134,4155,1345,342

Below is a detailed analysis of the balance sheet data for Force Motors Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

  • For Equity Capital, as of Sep 2025, the value is 13.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 13.00 Cr..
  • For Reserves, as of Sep 2025, the value is 3,493.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,020.00 Cr. (Mar 2025) to 3,493.00 Cr., marking an increase of 473.00 Cr..
  • For Borrowings, as of Sep 2025, the value is 0.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 17.00 Cr. (Mar 2025) to 0.00 Cr., marking a decrease of 17.00 Cr..
  • For Other Liabilities, as of Sep 2025, the value is 1,836.00 Cr.. The value appears to be improving (decreasing). It has decreased from 2,083.00 Cr. (Mar 2025) to 1,836.00 Cr., marking a decrease of 247.00 Cr..
  • For Total Liabilities, as of Sep 2025, the value is 5,342.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 5,134.00 Cr. (Mar 2025) to 5,342.00 Cr., marking an increase of 208.00 Cr..
  • For Fixed Assets, as of Sep 2025, the value is 2,115.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,969.00 Cr. (Mar 2025) to 2,115.00 Cr., marking an increase of 146.00 Cr..
  • For CWIP, as of Sep 2025, the value is 190.00 Cr.. The value appears to be declining and may need further review. It has decreased from 287.00 Cr. (Mar 2025) to 190.00 Cr., marking a decrease of 97.00 Cr..
  • For Investments, as of Sep 2025, the value is 95.00 Cr.. The value appears to be declining and may need further review. It has decreased from 103.00 Cr. (Mar 2025) to 95.00 Cr., marking a decrease of 8.00 Cr..
  • For Other Assets, as of Sep 2025, the value is 2,941.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,775.00 Cr. (Mar 2025) to 2,941.00 Cr., marking an increase of 166.00 Cr..
  • For Total Assets, as of Sep 2025, the value is 5,342.00 Cr.. The value appears strong and on an upward trend. It has increased from 5,134.00 Cr. (Mar 2025) to 5,342.00 Cr., marking an increase of 208.00 Cr..

Notably, the Reserves (3,493.00 Cr.) exceed the Borrowings (0.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1162262564712563144097185321,014971
Cash from Investing Activity + -100-96-210-621-81-606-327-333-356-256-198-351
Cash from Financing Activity + -30-45-37180-223256-20293375-207-509-562
Net Cash Flow -1485930-47-3562-32376830858

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow77.00136.00260.0069.00268.00-11.00-49.00-618.0049.00-642.00373.00-16.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 2417181426172023211458
Inventory Days 9787927368669113689778373
Days Payable 7787708081529510872696148
Cash Conversion Cycle 44174061331155238222732
Working Capital Days 2415233043436-5-37-6-216
ROCE %6%10%18%14%11%10%5%-5%-3%5%24%30%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 61.63%61.63%61.63%61.63%61.63%61.63%61.63%61.63%61.63%61.63%61.63%61.63%
FIIs 2.72%4.11%4.94%4.91%6.34%7.78%7.89%8.15%8.36%9.77%10.27%10.46%
DIIs 2.32%1.48%1.59%1.20%0.86%1.02%0.92%0.90%1.43%1.66%1.48%1.80%
Public 33.33%32.77%31.86%32.27%31.16%29.57%29.56%29.30%28.58%26.94%26.63%26.12%
No. of Shareholders 53,95850,22148,08647,55647,74251,90956,04459,20756,16459,41972,33471,870

Shareholding Pattern Chart

No. of Shareholders

Force Motors Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Sundaram Flexicap Fund 21,000 1.97 40.31N/AN/AN/A
Sundaram Value Fund 19,735 2.73 37.88N/AN/AN/A
Sundaram ELSS Tax Saver Fund 14,000 1.99 26.8739,0002025-10-30 05:55:10-64.1%
WhiteOak Capital Flexi Cap Fund 12,140 0.33 23.311,0752026-02-23 00:03:269.62%
WhiteOak Capital Multi Cap Fund 5,134 0.33 9.854,3962026-02-23 00:03:2616.79%
Samco Active Momentum Fund 3,832 1.11 7.368,8052026-02-23 00:03:26-56.48%
Samco Special Opportunities Fund 2,009 2.88 3.862,1692026-02-23 00:03:26-7.38%
Samco Dynamic Asset Allocation Fund 1,110 0.91 2.131692026-02-23 00:03:27556.8%
Taurus Flexi Cap Fund 900 0.51 1.73N/AN/AN/A
Shriram Flexi Cap Fund 430 0.63 0.83N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 607.71294.54101.43-69.13-93.83
Diluted EPS (Rs.) 607.71294.54101.43-69.13-93.83
Cash EPS (Rs.) 819.86507.43298.2488.4847.10
Book Value[Excl.RevalReserv]/Share (Rs.) 2301.541712.711424.221327.661395.85
Book Value[Incl.RevalReserv]/Share (Rs.) 2301.541712.711424.221327.661395.85
Revenue From Operations / Share (Rs.) 6124.235305.113815.612458.591508.49
PBDIT / Share (Rs.) 871.99719.11297.3090.3028.82
PBIT / Share (Rs.) 659.36516.72114.64-54.58-102.94
PBT / Share (Rs.) 939.10469.57220.80-85.71-124.36
Net Profit / Share (Rs.) 607.24305.04115.58-56.39-84.67
NP After MI And SOA / Share (Rs.) 607.54294.45101.40-69.10-93.80
PBDIT Margin (%) 14.2313.557.793.671.91
PBIT Margin (%) 10.769.743.00-2.21-6.82
PBT Margin (%) 15.338.855.78-3.48-8.24
Net Profit Margin (%) 9.915.743.02-2.29-5.61
NP After MI And SOA Margin (%) 9.925.552.65-2.81-6.21
Return on Networth / Equity (%) 26.3917.207.12-5.21-6.72
Return on Capital Employeed (%) 25.4924.506.03-3.02-5.73
Return On Assets (%) 15.598.793.32-2.48-3.81
Long Term Debt / Equity (X) 0.000.160.310.340.26
Total Debt / Equity (X) 0.010.230.500.610.28
Asset Turnover Ratio (%) 1.691.661.300.930.62
Current Ratio (X) 1.501.251.040.801.01
Quick Ratio (X) 0.800.530.480.300.37
Inventory Turnover Ratio (X) 6.885.265.374.322.74
Dividend Payout Ratio (NP) (%) 3.293.399.86-7.23-10.66
Dividend Payout Ratio (CP) (%) 2.432.013.526.5926.33
Earning Retention Ratio (%) 96.7196.6190.14107.23110.66
Cash Earning Retention Ratio (%) 97.5797.9996.4893.4173.67
Interest Coverage Ratio (X) 44.4315.255.732.901.35
Interest Coverage Ratio (Post Tax) (X) 16.687.470.18-0.81-2.95
Enterprise Value (Cr.) 11434.789625.282352.962346.332030.17
EV / Net Operating Revenue (X) 1.421.380.460.721.02
EV / EBITDA (X) 9.9510.166.0019.7253.44
MarketCap / Net Operating Revenue (X) 1.481.370.300.410.77
Retention Ratios (%) 96.7096.6090.13107.23110.66
Price / BV (X) 3.934.230.810.770.83
Price / Net Operating Revenue (X) 1.481.370.300.410.77
EarningsYield 0.060.040.08-0.06-0.08

After reviewing the key financial ratios for Force Motors Ltd, here is a detailed analysis based on the latest available data and recent trends:

  • For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
  • For Basic EPS (Rs.), as of Mar 25, the value is 607.71. This value is within the healthy range. It has increased from 294.54 (Mar 24) to 607.71, marking an increase of 313.17.
  • For Diluted EPS (Rs.), as of Mar 25, the value is 607.71. This value is within the healthy range. It has increased from 294.54 (Mar 24) to 607.71, marking an increase of 313.17.
  • For Cash EPS (Rs.), as of Mar 25, the value is 819.86. This value is within the healthy range. It has increased from 507.43 (Mar 24) to 819.86, marking an increase of 312.43.
  • For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 2,301.54. It has increased from 1,712.71 (Mar 24) to 2,301.54, marking an increase of 588.83.
  • For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 2,301.54. It has increased from 1,712.71 (Mar 24) to 2,301.54, marking an increase of 588.83.
  • For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 6,124.23. It has increased from 5,305.11 (Mar 24) to 6,124.23, marking an increase of 819.12.
  • For PBDIT / Share (Rs.), as of Mar 25, the value is 871.99. This value is within the healthy range. It has increased from 719.11 (Mar 24) to 871.99, marking an increase of 152.88.
  • For PBIT / Share (Rs.), as of Mar 25, the value is 659.36. This value is within the healthy range. It has increased from 516.72 (Mar 24) to 659.36, marking an increase of 142.64.
  • For PBT / Share (Rs.), as of Mar 25, the value is 939.10. This value is within the healthy range. It has increased from 469.57 (Mar 24) to 939.10, marking an increase of 469.53.
  • For Net Profit / Share (Rs.), as of Mar 25, the value is 607.24. This value is within the healthy range. It has increased from 305.04 (Mar 24) to 607.24, marking an increase of 302.20.
  • For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 607.54. This value is within the healthy range. It has increased from 294.45 (Mar 24) to 607.54, marking an increase of 313.09.
  • For PBDIT Margin (%), as of Mar 25, the value is 14.23. This value is within the healthy range. It has increased from 13.55 (Mar 24) to 14.23, marking an increase of 0.68.
  • For PBIT Margin (%), as of Mar 25, the value is 10.76. This value is within the healthy range. It has increased from 9.74 (Mar 24) to 10.76, marking an increase of 1.02.
  • For PBT Margin (%), as of Mar 25, the value is 15.33. This value is within the healthy range. It has increased from 8.85 (Mar 24) to 15.33, marking an increase of 6.48.
  • For Net Profit Margin (%), as of Mar 25, the value is 9.91. This value is within the healthy range. It has increased from 5.74 (Mar 24) to 9.91, marking an increase of 4.17.
  • For NP After MI And SOA Margin (%), as of Mar 25, the value is 9.92. This value is within the healthy range. It has increased from 5.55 (Mar 24) to 9.92, marking an increase of 4.37.
  • For Return on Networth / Equity (%), as of Mar 25, the value is 26.39. This value is within the healthy range. It has increased from 17.20 (Mar 24) to 26.39, marking an increase of 9.19.
  • For Return on Capital Employeed (%), as of Mar 25, the value is 25.49. This value is within the healthy range. It has increased from 24.50 (Mar 24) to 25.49, marking an increase of 0.99.
  • For Return On Assets (%), as of Mar 25, the value is 15.59. This value is within the healthy range. It has increased from 8.79 (Mar 24) to 15.59, marking an increase of 6.80.
  • For Long Term Debt / Equity (X), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 0.2. It has decreased from 0.16 (Mar 24) to 0.00, marking a decrease of 0.16.
  • For Total Debt / Equity (X), as of Mar 25, the value is 0.01. This value is within the healthy range. It has decreased from 0.23 (Mar 24) to 0.01, marking a decrease of 0.22.
  • For Asset Turnover Ratio (%), as of Mar 25, the value is 1.69. It has increased from 1.66 (Mar 24) to 1.69, marking an increase of 0.03.
  • For Current Ratio (X), as of Mar 25, the value is 1.50. This value is within the healthy range. It has increased from 1.25 (Mar 24) to 1.50, marking an increase of 0.25.
  • For Quick Ratio (X), as of Mar 25, the value is 0.80. This value is below the healthy minimum of 1. It has increased from 0.53 (Mar 24) to 0.80, marking an increase of 0.27.
  • For Inventory Turnover Ratio (X), as of Mar 25, the value is 6.88. This value is within the healthy range. It has increased from 5.26 (Mar 24) to 6.88, marking an increase of 1.62.
  • For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 3.29. This value is below the healthy minimum of 20. It has decreased from 3.39 (Mar 24) to 3.29, marking a decrease of 0.10.
  • For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 2.43. This value is below the healthy minimum of 20. It has increased from 2.01 (Mar 24) to 2.43, marking an increase of 0.42.
  • For Earning Retention Ratio (%), as of Mar 25, the value is 96.71. This value exceeds the healthy maximum of 70. It has increased from 96.61 (Mar 24) to 96.71, marking an increase of 0.10.
  • For Cash Earning Retention Ratio (%), as of Mar 25, the value is 97.57. This value exceeds the healthy maximum of 70. It has decreased from 97.99 (Mar 24) to 97.57, marking a decrease of 0.42.
  • For Interest Coverage Ratio (X), as of Mar 25, the value is 44.43. This value is within the healthy range. It has increased from 15.25 (Mar 24) to 44.43, marking an increase of 29.18.
  • For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 16.68. This value is within the healthy range. It has increased from 7.47 (Mar 24) to 16.68, marking an increase of 9.21.
  • For Enterprise Value (Cr.), as of Mar 25, the value is 11,434.78. It has increased from 9,625.28 (Mar 24) to 11,434.78, marking an increase of 1,809.50.
  • For EV / Net Operating Revenue (X), as of Mar 25, the value is 1.42. This value is within the healthy range. It has increased from 1.38 (Mar 24) to 1.42, marking an increase of 0.04.
  • For EV / EBITDA (X), as of Mar 25, the value is 9.95. This value is within the healthy range. It has decreased from 10.16 (Mar 24) to 9.95, marking a decrease of 0.21.
  • For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 1.48. This value is within the healthy range. It has increased from 1.37 (Mar 24) to 1.48, marking an increase of 0.11.
  • For Retention Ratios (%), as of Mar 25, the value is 96.70. This value exceeds the healthy maximum of 70. It has increased from 96.60 (Mar 24) to 96.70, marking an increase of 0.10.
  • For Price / BV (X), as of Mar 25, the value is 3.93. This value exceeds the healthy maximum of 3. It has decreased from 4.23 (Mar 24) to 3.93, marking a decrease of 0.30.
  • For Price / Net Operating Revenue (X), as of Mar 25, the value is 1.48. This value is within the healthy range. It has increased from 1.37 (Mar 24) to 1.48, marking an increase of 0.11.
  • For EarningsYield, as of Mar 25, the value is 0.06. This value is below the healthy minimum of 5. It has increased from 0.04 (Mar 24) to 0.06, marking an increase of 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Force Motors Ltd as of February 26, 2026 is: ₹15,389.41

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of February 26, 2026, Force Motors Ltd is Overvalued by 39.08% compared to the current share price ₹25,262.00

Intrinsic Value of Force Motors Ltd as of February 26, 2026 is: ₹59,821.41

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of February 26, 2026, Force Motors Ltd is Undervalued by 136.80% compared to the current share price ₹25,262.00

Last 5 Year EPS CAGR: 288.72%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of 12.50, which is a positive sign.
  2. The company has higher reserves (1,960.62 cr) compared to borrowings (311.31 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (3.85 cr) and profit (129.08 cr) over the years.
  1. The stock has a low average ROCE of 10.42%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 28.08, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Force Motors Ltd:
    1. Net Profit Margin: 9.91%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 25.49% (Industry Average ROCE: 22.38%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 26.39% (Industry Average ROE: 25.68%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 16.68
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.8
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 34.7 (Industry average Stock P/E: 35.79)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.01
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Force Motors Ltd. is a Public Limited Listed company incorporated on 08/09/1958 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L34102PN1958PLC011172 and registration number is 011172. Currently Company is involved in the business activities of Manufacture of commercial vehicles such as vans, lorries, over-the-road tractors for semi-trailers etc.. Company's Total Operating Revenue is Rs. 8071.23 Cr. and Equity Capital is Rs. 13.18 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto - LCVs/HCVsMumbai-Pune Road, Akurdi, Pune Maharashtra 411035Contact not found
Management
NamePosition Held
Mr. Abhaykumar Navalmal FirodiaChairman
Mr. Prasan Abhaykumar FirodiaManaging Director
Mr. Prashant V InamdarExecutive Director - Operations
Ms. Sonia PrasharIndependent Director
Mr. Vallabh Roopchand BhanshaliIndependent Director
Mr. Mukesh Mangalbhai PatelIndependent Director

FAQ

What is the intrinsic value of Force Motors Ltd?

Force Motors Ltd's intrinsic value (as of 26 February 2026) is ₹59821.41 which is 136.80% higher the current market price of ₹25,262.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's ₹33,286 Cr. market cap, FY2025-2026 high/low of ₹26,486/6,464, reserves of ₹3,493 Cr, and liabilities of ₹5,342 Cr.

What is the Market Cap of Force Motors Ltd?

The Market Cap of Force Motors Ltd is 33,286 Cr..

What is the current Stock Price of Force Motors Ltd as on 26 February 2026?

The current stock price of Force Motors Ltd as on 26 February 2026 is ₹25,262.

What is the High / Low of Force Motors Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Force Motors Ltd stocks is ₹26,486/6,464.

What is the Stock P/E of Force Motors Ltd?

The Stock P/E of Force Motors Ltd is 34.7.

What is the Book Value of Force Motors Ltd?

The Book Value of Force Motors Ltd is 2,661.

What is the Dividend Yield of Force Motors Ltd?

The Dividend Yield of Force Motors Ltd is 0.16 %.

What is the ROCE of Force Motors Ltd?

The ROCE of Force Motors Ltd is 30.0 %.

What is the ROE of Force Motors Ltd?

The ROE of Force Motors Ltd is 20.8 %.

What is the Face Value of Force Motors Ltd?

The Face Value of Force Motors Ltd is 10.0.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Force Motors Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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